Tianjin Hui Li Yuan Power Equipment Co. Ltd., China

In August 2017, the Company had acquired 60% equity interests in Tianjin Hui Li Yuan Power Equipment Co. Ltd. (“Tianjin Hui Li Yuan”).

Tianjin Hui Li Yuan is principally engaged in the business of property rentals and property development. Tianjin Hui Li Yuan is the legal owner of the land use right for a parcel of land with an area of approximately 29,012.72 square metres located at Tianjin Economic and Technological Development Zone, Tianjin City, the PRC. The land is now for industrial use and having two 4-storey buildings with a total gross floor area of 18,333 square metres under construction.